General Anti-avoidance Rule Or Gaar

BJP, government defeat Left motion on GAAR in Lok Sabha

Finance Minister Pranab Mukherjee today firmly defended deferring implementation of the General Anti-Avoidance Rules (GAAR), which are aimed at preventing tax evasion and have led to fears that they would target foreign institutional investors. In his reply to the debate on the Finance Bill in the Lok Sabha, he said the deferral of the tax proposal...